California Public Employees Retirement System grew its holdings in shares of WEX Inc. (NYSE:WEX – Free Report) by 16.3% in the first quarter, HoldingsChannel.com reports. The fund owned 76,604 shares of the business services provider’s stock after acquiring an additional 10,730 shares during the quarter. California Public Employees Retirement System’s holdings in WEX were worth $11,723,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of WEX. American Century Companies Inc. raised its position in shares of WEX by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 3,205 shares of the business services provider’s stock valued at $471,000 after buying an additional 60 shares in the last quarter. First Horizon Corp grew its stake in WEX by 65.7% during the fourth quarter. First Horizon Corp now owns 237 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 94 shares in the last quarter. Eukles Asset Management lifted its position in WEX by 2.8% in the fourth quarter. Eukles Asset Management now owns 3,429 shares of the business services provider’s stock worth $511,000 after buying an additional 95 shares during the last quarter. Nicolet Advisory Services LLC grew its stake in WEX by 8.1% in the third quarter. Nicolet Advisory Services LLC now owns 1,362 shares of the business services provider’s stock worth $214,000 after purchasing an additional 102 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in WEX by 0.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,095 shares of the business services provider’s stock valued at $1,748,000 after acquiring an additional 104 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.
Insider Activity at WEX
In related news, COO Robert Joseph Deshaies sold 2,000 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $148.40, for a total value of $296,800.00. Following the completion of the sale, the chief operating officer directly owned 20,288 shares of the company’s stock, valued at approximately $3,010,739.20. This represents a 8.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James R. Groch bought 1,500 shares of the company’s stock in a transaction on Monday, May 18th. The stock was purchased at an average cost of $142.95 per share, for a total transaction of $214,425.00. Following the completion of the transaction, the director owned 17,957 shares in the company, valued at approximately $2,566,953.15. The trade was a 9.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 1.40% of the company’s stock.
WEX Trading Up 3.0%
WEX (NYSE:WEX – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $5.35 EPS for the quarter, beating the consensus estimate of $5.08 by $0.27. The company had revenue of $753.50 million for the quarter, compared to analyst estimates of $740.72 million. WEX had a net margin of 12.56% and a return on equity of 43.19%. WEX’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business earned $3.95 earnings per share. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. On average, analysts predict that WEX Inc. will post 16.88 EPS for the current year.
WEX announced that its board has authorized a share buyback program on Thursday, May 14th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 21.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
More WEX News
Here are the key news stories impacting WEX this week:
- Positive Sentiment: WEX beat Q2 2026 expectations on both revenue and earnings, with revenue up 14.2% year over year to $753.5 million and adjusted EPS rising to $5.35, helping support bullish investor sentiment. Article Title
- Positive Sentiment: The company raised full-year guidance, now targeting $2.86 billion to $2.90 billion in revenue and $19.68 to $20.08 in adjusted EPS, which signals management confidence in continued growth. Article Title
- Positive Sentiment: Keefe, Bruyette & Woods lifted its price target on WEX to $210 from $200 and reiterated an outperform rating, implying additional upside from current levels. Article Title
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Loop Capital assumed coverage on WEX in a research report on Monday, April 27th. They set a “buy” rating and a $195.00 target price on the stock. Morgan Stanley lifted their price target on WEX from $161.00 to $172.00 and gave the stock an “equal weight” rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price target on WEX from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of WEX from $180.00 to $160.00 and set a “hold” rating for the company in a report on Friday, June 12th. Finally, Weiss Ratings raised shares of WEX from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 9th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $179.73.
Get Our Latest Analysis on WEX
WEX Profile
WEX Inc is a global financial technology company specializing in business payment solutions for fleet, travel, and corporate payments. The company delivers software-driven platforms and card-based services that help businesses automate payment processes, manage expenses and improve operational efficiency across a range of industries, including transportation, healthcare and government.
Founded in 1983 as Wright Express in Portland, Maine, the company began by offering fuel card services to trucking fleets.
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